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obama. once again obama is pushing for higher taxes. don't take our word for it. listen to what he said last night just before the sboel. >> there is a way to solve the budget problems in a responsible way through a balanced approach that the vast majority of people agree with. if we do there is no reason we can't have strong growth in 2013. we can't b have washington dysfunction getting in the way. >> with all respect, free market capitalism is the best path to prosperi prosperity. more tax hikes will not hurt this economy. let's not push our luck. republicans will block it. we'll be right back. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. >>> stock market correction today. i still believe rising profits and an easy fed will keep the bull market going -- at least until the president tax bombs us to death again. that's what obama said before the super bowl yesterday which could be the real reaso
, larry, and you can't tax an economy in the prosperity period. >> look, ideally you would say okay, we're going to freeze government spending at this level and that would mean over time it is going to fall as a percentage of the economy, but you can't ever get congress to do that, right? so it always ends up being something very harsh to get things done. and so this is the consequence that you have to face. at least in the short term. that you're going to have a short-term hit to gdp. but in the long run, the numbers are going to be better for the united states. >> most of that stuff is transfer payments. >> agreed. >> it will not even affect gdp. defense purchases do affect gdp. but to america since nobody ever wants to cut spending -- >> you got to cut somewhere. >> and i would do it right now. >> and it will only happen during bad times, larry. it will never happen during good times. we see that over and over again, when the economy is going gang busters, the government just chooses to spend more. it's in its nature. you have to do it when it's tough. >> lower spending means a stron
tax rates anyway by nearly 25%. what it triggered was falling inflation, falling interest rates and the strongest economic expansion in 30 years. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪ >>> global stock market still on a tear. did you know almost 20 world indexes traded at new multi year highs this year already? did you know japan, the hottest of the hot up 3.8% just today? cnbc's seema mody joins us. >> we have seen a revival in global equities. better than expected earnings. easy money from the fed and decent economic data brought fresh money to equitieequities. the s&p 500 and nasdaq trade at new highs. the ral d
delay in those spending cuts. and he calls for another tax increase. now it's up to republicans to respond. remember, spending cut sequester goes into effect in 24 days on march 1st. the sequester by the way was originally the president's idea. let's get right to what the president said. john harwood joins us thousanow all the details. >> as you know, there are two ways to go about deficit reduction under the sequester law passed in 2011. one is the full ten year sequester. that's $1.2 trillion in budget cuts over ten years. the other is to do it piece meal. if do you it just for the rest of of the year, it would just be $85 billion. president obama said if congress can't agree with the full pack annual by march 1st, we need to do something smaller in the name of staving off damage to the economy, to consumer, and to federal workers. here's the president. >> if congress can't act immediately on a bigger package, about they can't get a bigger package done by the time the sequester is scheduled fto go into effect, then i believe they should at least pass a smaller package of spend
. this business about raising taxes, it's not catching on. i just don't hear it from down there. >> the house republicans aren't feeling the president to raise taxes. it's a complicated argument to help, that's why it's really not catching fire. a lot of defense industry lobbyists are giving republicans heat, they don't feel heat from the constituents because the constituents they think want to see real spending cuts. americans want spending cuts, they don't want political gains. >> i really do. i think when you look at the poll, americans still want smaller government and fewer services, aka spending cuts. i think this is the white house's big mistake, they're barking up the wrong tree. the only question i have, it is after all republicans, will they hang tough? in your opinion, you're closer to it, will they hang tough? >> i spent all day on capitol hill talking to house republicans privately saying what's going to happen between now and march 1st? they say the house leader has promised them privately they're not going to replace the sequester unless there are real cuts to replace the seque
side path right now, i dare say if washington doesn't bomb us with a mega ton of taxes on investment we should be okay. nothing's ever perfect. and corrections are going to come and go. but all this, i see the stock market running up for a good while. now, let's get some advice on how to play it or disagree with it. go to our distinguished panel. ryan kelly, co-founder of shelter harbor capital. jim iuorio, director at tjm institutional services, and cnbc contributor jim pethokoukis. i want to go to b.k., brian kelly first. do you buy the rally continuing? how do you play this? what do you do right now? this is almost like a technical portfolio manager's question. >> yeah. i think probably the best thing you do right now is you take profits on a tremendous run that we've had since january 1st. if you want to actually still capture some of that up side, you can use options so you control your down side. i mean, if you just kind of look at any market, as you said, we're going to get some pullbacks here. what scares me is at bottoms everything looks awful and at tops everything looks fanta
these with more targeted cuts and tax hikes support goes up only 3 points. opposition goes up 12 points. larry, i think what's happening here is most americans realize that this is not the huge issue that some in washington are making it out to be. 58% know no spending cuts just really a reduction in growth. >> well, i think that's right, actually. they're pretty smart. scott, i know you polled on the size of government and spending for a long time. but just going through your web site today, 68%, 68% believe cutting spending is the best way to help the economy. now, that runs so counter to what both democrats and republicans in washington say. i'm the only guy that argues that. i learned it from milton freedman. lower spending, limit government, you'll help the economy. you're saying two-thirds of the public understands that. >> that's right. and this is something that whether it was in the clinton years or bush years or now the obama years, our polling consistently find people think if you cut government spending it's good for the economy. they haven't had anybody in washington articulating tha
Search Results 0 to 6 of about 7